Peloton Interactive (NASDAQ:PTON) Rating Lowered to Hold at Zacks Research

Peloton Interactive (NASDAQ:PTON) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

PTON has been the subject of several other research reports. Morgan Stanley upped their price target on Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. reduced their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. Guggenheim began coverage on Peloton Interactive in a research report on Wednesday, December 10th. They set a “neutral” rating on the stock. Finally, Argus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.42.

Peloton Interactive Price Performance

NASDAQ:PTON opened at $4.12 on Tuesday. The firm has a market capitalization of $1.75 billion, a PE ratio of -31.69, a price-to-earnings-growth ratio of 0.80 and a beta of 2.41. The business’s fifty day moving average price is $5.61 and its 200 day moving average price is $6.85. Peloton Interactive has a 12 month low of $3.99 and a 12 month high of $9.20.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $656.50 million for the quarter, compared to analyst estimates of $675.04 million. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted ($0.24) EPS. As a group, equities analysts anticipate that Peloton Interactive will post -0.36 EPS for the current year.

Insider Buying and Selling

In other Peloton Interactive news, COO Charles Peter Kirol sold 6,419 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.14, for a total transaction of $26,574.66. Following the transaction, the chief operating officer directly owned 88,408 shares in the company, valued at approximately $366,009.12. The trade was a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 238,013 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.18, for a total transaction of $994,894.34. Following the completion of the transaction, the chief financial officer owned 346,535 shares in the company, valued at approximately $1,448,516.30. This represents a 40.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,079,910 shares of company stock worth $5,144,999. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. raised its holdings in Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Peloton Interactive by 64.6% during the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock worth $38,000 after buying an additional 2,158 shares during the period. Advisory Services Network LLC bought a new stake in shares of Peloton Interactive during the 3rd quarter worth $48,000. Evolve Private Wealth LLC bought a new position in shares of Peloton Interactive in the fourth quarter worth about $62,000. Finally, NewEdge Advisors LLC grew its holdings in Peloton Interactive by 575.2% in the 4th quarter. NewEdge Advisors LLC now owns 10,182 shares of the company’s stock valued at $63,000 after buying an additional 8,674 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.